Nyrstar NV: Ruling of the FSMA’s Sanctions Committee

Core Viewpoint - Nyrstar NV acknowledges the ruling by the FSMA's Sanctions Committee regarding its communication on liquidity, which was found to be misleading, resulting in an administrative fine of EUR 80,000 [1][6]. Findings Relating to Nyrstar NV - The FSMA's Sanctions Committee confirmed that Nyrstar's communication on the Review Date regarding its liquidity position was misleading, stating that the liquidity was inaccurately described as "strong committed liquidity of EUR 631 million," while it had actually decreased to EUR 440 million [3]. - The Committee determined that the liquidity position was no longer "strong" but merely "sufficient" or "enough" at the time of the Review Date [3]. - Other allegations regarding Nyrstar's liquidity position were rejected, including claims of an imminent liquidity crisis and concealment of significant capital restructuring [4]. - The Sanctions Committee found that Nyrstar NV failed to immediately notify the FSMA about delayed disclosures of inside information, constituting a breach of MAR [5]. - The Committee did not find evidence that Nyrstar's commercial agreements with Trafigura were unbalanced or that the company failed to disclose essential information about its indebtedness [5]. - The expected EBITDA contribution from the Port Pirie redevelopment was not deemed excessively optimistic by the Sanctions Committee [5]. Administrative Actions - An administrative fine of EUR 80,000 was imposed on Nyrstar NV for the misleading communication regarding liquidity [6]. - The directors of Nyrstar NV were acquitted of allegations related to the dissemination of misleading information about the liquidity position [7].